This Little Piggy Had Roast Beef, the four-plus-year-old restaurant known for mixing beef and Cheese Whiz at 149 First Ave.,
closed for good this past March.
The listing arrived for the storefront between East Ninth Street and East 10th Street back in April.
An East Village resident with an interesting in leasing the address looked into what it would take to open a business here. The reader shared that information with us to illustrate what it takes to pay for a small retail space around here these days.
The asking is $9,500 rent per month, with another $50 per month in real-estate taxes. So that would be $9,550 per month.
$9,500/4 = $2,375 per week in rent
$9,500.00/30 = $316.66 dollars a day in rent
The store is 10 feet wide by 50 feet deep without a garden. (The broker said that it was 500 square feet on the top floor and 500 square feet in the basement. They are counting the basement as a rentable floor.)
The landlord wants six months up front plus the first month's rent. So just to lease that space ($9,550 x 7) you'd need $66,850. For the year: $9,550.00 x 12 = $ 114,600
Aside from rent, there are the renovation costs … and then the ConEd bill, insurance, trash pickup, phone/Internet, credit card processing fees and various taxes, and so on. Not to mention payroll. And something for the owner.
Per the resident: "What can you sell legally in a 10-foot-wide space to generate all that income? I'd like to know."
Find a PDF of the retail listing
here.